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I'm afraid that like the housing bubble, it'll get "too big to burst" and require intervention to keep those who have previously invested afloat while keeping d
by eterm 9y ago
I'm afraid that like the housing bubble, it'll get "too big to burst" and require intervention to keep those who have previously invested afloat while keeping down those outside the bubble.
- seanmcdirmid 9y agoWho would bail it out? It isn’t backed by any government with big pockets.
- krapp 9y agoIsn't "intervention" the problem Bitcoin was designed to solve? Maybe if people are looking for long term security and insurance against risk they shouldn't buy into anarcho-capitalist fun bucks... or at least not more than they can afford to lose.
- alangou 9y agoI'd certainly be very impressed if cryptocurrencies reached the point where they could affect the economy that much in the near future. The current market capitalization of all cryptos comes out to under $200 billion [1], while the US housing market was nearly $30 trillion as of last December [2]. So it would have to grow 150x somehow. [1] https://coinmarketcap.com/ https://coinmarketcap.com/ [2] http://zillow.mediaroom.com/2016-12-30-U-S-Housing-Worth-Record-High-29-6-Trillion-in-2016 http://zillow.mediaroom.com/2016-12-30-U-S-Housing-Worth-Rec...